Skanska Railworks inks lease at 519 Eighth Avenue while doing No. 7 subway work

November 22, 2011 12:43PM

Skanska Railworks Joint Venture has secured a five-year, 16,000 square-foot lease at the Kaufman Organization’s 519 Eighth Avenue, Kaufman announced today. The space will be the company’s headquarters as it works on the No. 7 subway expansion, for which it was awarded the contract last month.

The extension — a plan to extend the IRT Flushing Line westward from Times Square, adding one new station at 34th Street and Eleventh Avenue– is expected to be operational by December 2013. 

Steven Kaufman and Barbara Raskob of the Kaufman Organization represented the landlord, while Ted Spiegel of Spiegel Real Estate represented the tenant in the deal. Although terms of the lease were not disclosed, the asking rent for the space, between 34th and 35th streets, was in the mid-$30s per square foot.

“Skanksa Railworks Joint Venture is another great addition to 519 Eighth Avenue, which is [now] 100 percent occupied,” Raskob said.

Skanska, a construction development company, is involved in a few other major projects in the city, including a reconstruction project near the World Trade Center and the construction of the Second Avenue Subway. — Katherine Clarke